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Showing 381 to 387 of 387 Records
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1999 (5) TMI 7 - GUJARAT HIGH COURT
Wealth Tax, Discretionary Trust, Rate of Tax ... ... ... ... ..... 164(1) whereas no corresponding provision exist under the Wealth-tax Act during the assessment years in question. Faced with this situation learned counsel for the assessee urged that the tax would still not be leviable because under the Wealth-tax Act, an association of persons is not an assessable entity but the assessable entities are only individual, Hindu undivided family, or the company and sub-section (4) of section 21 which operates notwithstanding other provisions of section 21 does not preclude the applicability of other provisions of the Act including the exemption limit provided under the Schedule on which no tax is leviable. We are afraid both the questions do not arise out of the Tribunal s order which could be examined by us. It is for the Tribunal when it decides the appeal again in the light of the decision rendered by this court in this reference to consider and decide these issues. Accordingly, reference is disposed of. There shall be no order as to costs.
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1999 (5) TMI 6 - SC ORDER
Whether, the Income-tax Appellate Tribunal was correct in law in allowing investment allowance under section 32A of the Income-tax Act, 1961, on the excavator, which was used for excavation of earth at site - Whether, the Appellate Tribunal is correct in holding that the Assessing Officer cannot verify which machinery was used for contract work in proceedings under section 154 - Tribunal to state the case and refer the abovee two questions of law to HC
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1999 (5) TMI 5 - SC ORDER
Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee-company was entitled to export markets development allowance under section 35B(1)(b) in respect of expenditure incurred for foreign indenting business even though the services in this connection were rendered in India - High Court was not justified in holding that assessee-company was entitled to export markets development allowance under section 35B(1)(b)
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1999 (5) TMI 4 - SC ORDER
In view of the provision in s. 10(29A)(d) introduced in the Finance Act, 1999, the Tobacco Board's income becomes exempt for any assessment year w.e.f. April 1, 1975, or the previous year in which the Board was constituted. Hence, the assessments already made stand set aside by virtue of s. 10(29A)(d) with retrospective effect - appeal is allowed holding that there is no liability to income-tax as provided in s. 10(29A)(d) - appellant are entitled to refund consequent to retrospective amendment
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1999 (5) TMI 3 - SUPREME COURT
In view of this circular of October 9, 1984, which was then in force and which was binding on the assessing authorities, the interest on sticky advances in those years could not be taxed - hence Assessing Officer was right in not taxing the interest in suspense account for the assessment year 1981-82 in view of the Circular dated October 9, 1984.
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1999 (5) TMI 2 - SUPREME COURT
Appellant, a judge of the Allahabad High Court - He filed his income-tax return on the basis that the salary that he received as a judge was not liable to tax under the Income-tax Act, 1961 - held that judges' can be taxed by Act of Parliament - hence appeal is dismissed
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1999 (5) TMI 1 - CEGAT, CALCUTTA
Service Tax – (Reference to High Court) Delay submission of ST-3 return and not filed in prescribed form ST-3 imposition of penalty is mandatory
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